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20121117
20121117
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force us into the cliff come monday total 55 billion for defense or domestic spending into the future. >> it is a nightmare. >> it is a total disasteto create chaos. >> drive the economy off the fiscal cliff. john: really? one says sequestration may be okay. russ roberts comment not a horrible crisis? >> government spending is 3.8 trillion. you will cut 100 billion? that is o deck chair on the titanic. john: it is good across the board. >> if their actual cuts. i would do 20% across-the-board but that scares people because they think let's save the things that are important and cut the things that arnot. it is all important. the tax increases sound scarier of 400 billion but we have a $1 trillion deficit. each year we spend $1 trillion more than we take 10. so to raise taxes by 400 billion we have already raised them 1 trillion in the future. it is probably a good idea to say the spending is not a free lunch. john: and they're not talking about get rid of deductions and make it simpler. >> tax reform is great there is good and bad some deductions wold be good some others may be not so
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